UPA to go for major tax sops in Interim Budget
The United Progressive Alliance (UPA) Government is expected to defy convention and go for major tax sops in its Interim Budget on Monday even as General Elections are just a couple of months away.
External Affairs Minister Pranab Mukherjee, who is also handling the Finance Ministry in the absence of Prime Minister Manmohan Singh, will present the Interim Budget.
With elections close at hand, the UPA may announce some major sops to woo voters.
The Prime Minister has already signed the Interim Budget related papers and has forwarded them to President Pratibha Devisingh Patil.
Interim budgets in the past have essentially been maintenance exercises. Though there is no constitutional bar, it would be improper for a House to approve schemes for the entire year when it would be in office only for a part of that year.